Preferred Bank (PFBC) Rating Increased to Buy at BidaskClub
BidaskClub upgraded shares of Preferred Bank (NASDAQ:PFBC) from a hold rating to a buy rating in a report issued on Tuesday, July 11th.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Preferred Bank from a buy rating to a hold rating in a research note on Friday, June 23rd. Stephens started coverage on Preferred Bank in a research note on Thursday, April 6th. They set an equal weight rating on the stock. FBR & Co reiterated a buy rating on shares of Preferred Bank in a research note on Thursday, April 20th. Finally, ValuEngine upgraded Preferred Bank from a hold rating to a buy rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. Preferred Bank currently has a consensus rating of Buy and a consensus target price of $45.33.
Preferred Bank (PFBC) opened at 56.39 on Tuesday. The company’s 50 day moving average price is $54.32 and its 200 day moving average price is $53.55. The firm has a market capitalization of $809.08 million, a P/E ratio of 19.36 and a beta of 0.97. Preferred Bank has a 12 month low of $32.17 and a 12 month high of $58.98.
Preferred Bank (NASDAQ:PFBC) last issued its quarterly earnings data on Tuesday, July 18th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.05. Preferred Bank had a return on equity of 14.18% and a net margin of 28.91%. The business had revenue of $32.55 million for the quarter, compared to analysts’ expectations of $31.78 million. Analysts anticipate that Preferred Bank will post $3.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were issued a dividend of $0.20 per share. This is a positive change from Preferred Bank’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. Preferred Bank’s payout ratio is presently 27.49%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. raised its position in shares of Preferred Bank by 0.3% in the second quarter. Alps Advisors Inc. now owns 8,853 shares of the bank’s stock valued at $473,000 after buying an additional 23 shares during the last quarter. Eqis Capital Management Inc. raised its position in shares of Preferred Bank by 3.8% in the first quarter. Eqis Capital Management Inc. now owns 4,101 shares of the bank’s stock valued at $220,000 after buying an additional 149 shares during the last quarter. Bowling Portfolio Management LLC raised its position in shares of Preferred Bank by 2.0% in the second quarter. Bowling Portfolio Management LLC now owns 12,722 shares of the bank’s stock valued at $680,000 after buying an additional 251 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Preferred Bank by 0.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 77,103 shares of the bank’s stock valued at $4,123,000 after buying an additional 285 shares during the last quarter. Finally, Airain ltd increased its stake in Preferred Bank by 5.5% in the first quarter. Airain ltd now owns 6,102 shares of the bank’s stock worth $327,000 after buying an additional 318 shares during the last quarter. 75.01% of the stock is owned by institutional investors.
About Preferred Bank
Preferred Bank is a commercial bank. The Bank provides deposit services, as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high net worth individuals. The Bank offers various services, such as personal banking, business banking and treasury management.
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